Brokerages Set Golar LNG Limited (NASDAQ:GLNG) PT at $50.13

Golar LNG Limited (NASDAQ:GLNG) has received a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.13.

A number of brokerages recently weighed in on GLNG. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. Finally, StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Monday, December 9th.

Golar LNG Trading Up 2.6 %

Golar LNG stock opened at $42.74 on Wednesday. The company has a market cap of $4.46 billion, a PE ratio of 305.31 and a beta of 0.55. The company’s 50-day moving average is $41.60 and its two-hundred day moving average is $37.44. Golar LNG has a 1 year low of $19.94 and a 1 year high of $44.36.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.34%. Golar LNG’s dividend payout ratio (DPR) is currently 714.34%.

Institutional Trading of Golar LNG

Several hedge funds have recently bought and sold shares of GLNG. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG during the 3rd quarter worth approximately $32,000. Blue Trust Inc. grew its stake in shares of Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Golar LNG during the 3rd quarter worth approximately $52,000. CWM LLC grew its stake in shares of Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after acquiring an additional 1,479 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Golar LNG during the 4th quarter worth approximately $61,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.